What is the scope of flood insurance?
What is the scope of flood insurance? Most Floridians understand the need for flood insurance to protect property from damage caused by rising waters in the state. However, there are those who doubt the true scope of the policy. What does flood insurance cover?
According to the Federal Emergency Management Agency -FEMA, in English- a typical policy covers up to $250,000 in damage to structures and $100,000 in loss of personal effects.
That is to say, if as a consequence of a flood of water, it is necessary to repair or reinforce structures of the property, the foundations, the floors or to replace a wall or a wall, the policy is in charge of the disbursement to pay for the repairs.
It also covers appliances, furniture, and decorations that are damaged inside the insured property, up to the amount agreed in the policy.
It is appropriate to point out that the typical flood policy excludes damages caused in basements and semi-basements of the property. If you have a basement in your home and there is a flood watch in your area, try moving valuables to a higher location in your home.
Although the hurricane season to date has behaved without much virulence, the most intense months are still to come. Do not miss the opportunity to take out flood insurance on time to prevent water from muddying your dreams. Remember that a single inch of water inside a house can cause losses of more than $25,000.
At Univista Insurance you can find the cheapest Flood Insurance in Florida. What is the scope of flood insurance?